Sunday, September 18, 2011

LightSquared Scandal Explodes


Obama photoAllegations that we first made in February about White House political favors for a company called LightSquared are starting to get the attention they deserve.
LightSquared is owned by the Harbinger Capital hedge fund, headed by billionaire investor Phil Falcone. He visited the White House and made large donations to the Democratic Senatorial Campaign Committee. Soon after, the Federal Communications Commission (FCC) granted LightSquared a highly unusual waiver that allows the company to build out a national 4G wireless network on the cheap.

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